Wolverine earned great Q1 revenues worldwide as Sperry Top-Sider, Merrell and Saucony showed astonishing performance. These brands were added in October 2012 as part of the acquisition of Collective Brand’s PLG segment. The PLG acquisition delivered more than expected earnings accrual in first quarter for Wolverine.
Despite the Q1 results, Wolverine’s management provided a cautious outlook toward the future. Wolverine boots has world famous quality; even then, this brand has maintained a cautious attitude and strict guidelines have been given for this year revenue. Wolverine estimates its full year revenue to be about $2.7 billion to $2.775 billion, which shows a revenue growth in the range of 6-9 percent.
Wolverine’s SVP and CFO, Mr. Don Grimes said, “The cool weather in early spring in the U.S. will put pressure on reorders in Q2, and retailers are clearly cautious about the back half of the year”.
Wolverine’s Chairman, CEO and President, Mr. Blake Krueger said, “However, many domestic retailers have only just begun to sell spring product. This fact, coupled with some of the other global macro challenges, leads us, despite our over performance in Q1, to be appropriately cautious as we wait for trading conditions to unfold through the rest of the year”.
Wolverine boots and its other accessories have marked a great success in their market and still gaining momentum towards better results than other brands for fiscal 2013 – 2014. It seems Wolverine is well aware of future challenges thus, cautiously integrating the best efforts to reach the overall goals.